Ireland’s government will begin to sell down part of its 13.9% shareholding in Bank of Ireland

The Government has said it plans to sell its remaining shares in Bank of Ireland over the next six months.

The State currently holds 13.9pc of the bank’s shares.The number of shares sold will depend on market conditions, among other factors, according to a statement from the Department.Finance Minister Paschal Donohoe said on Wednesday, marking the state’s first sale of any bank shares since 2017.

In order to ensure that the taxpayers’ interest is protected, shares will not be sold below a certain price per share which the Department of Finance will keep under review, the statement added.

The Department of Finance is being advised by N.M. Rothschild & Co and William Fry in relation to this transaction.

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